Insurance Glossary | ||||||
Split-dollar insurance planA type of business insurance in which an employee is covered by individual life insurance that is paid for jointly by the employee and the employer. The employee names the beneficiaries. Each year the employer pays the portion of the premium that is equal to the increase in the policy's cash value for that year, and the employee pays the balance of the premium. If the employee dies, the employer will receive an amount of the proceeds equal to the cash value of the policy, while the beneficiaries of the policy will receive the remaining benefits.Copyright © 2001-2005 Free Online Insurance Quotes. All Rights Reserved. | Insurance Quotes Auto Insurance Boat Insurance Burial Insurance Business Insurance Dental Insurance Disability Insurance Health Insurance Homeowners Insurance Long Term Care Motorcycle Insurance Renters Insurance Survivorship Life Term Life Insurance Travel Insurance Universal Life Insurance Variable Life Insurance Whole Life Insurance | |||||